Tragedies and comedies alike exploit the power—and reality—of last chances. The ship is about to leave. You approach the plank, undecided. This is your last chance at a new life. Or, your unrequited love is about to ruin both of your lives by marrying that bozo. This is your last chance to pour out your heart to tell her you love her.

And so on.

The business world in particular is full of last chances, though last chance financial transactions...